Financials
- Fiscal year
- 2025
- Turnover
- €32.8m
- Loss
- -€4.1m
- Solvency
- 31.2%
Turnover▼ 9.6%
Net result
20182025
ETAP Lighting International
ActiveSummary
The annual accounts of ETAP Lighting International for fiscal year 2025 show a net loss of 69% of the equity at the start of that year. The 2025 annual accounts show equity of €5.9m and a net result of -€4.1m. Equity is shrinking by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 41% of 113 sector peers (fiscal year 2025). The company has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Activity
Manufacture of electrical equipment
NACE 27402NACE 31502
#1 employer in the province of Antwerp, Electrical equipment sector1 site
Size
€32.8mturnover 2025
- Staff
- 240 FTE
- Equity
- €5.9m
- Loss
- -€4.1m
Structure
- Parent
- Parfibel · 90%
- Board
- 7 members
- Holdings
- 1
Auditor: KPMG BedrijfsrevisorenAccounts 52 d early
Why 54Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year- Loss of €4.1m, the second in a row (FY 2025)- Sector Manufacture of electrical equipment (NACE 27)+ Liquidity: current ratio 1.05, cash €2.8m+ Founded in 1983Show the evidence
Checked score
Score 2025
54
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 29% of its sector peers (NACE 27)
Performance against the sector, not lower risk
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency
56+1
equity 31.2% of total assets
Liquidity
37-2
short-term debt 60.5% · cash 15.0%
Profitability
1-2
return on assets -21.8%
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.4%
12-2024: 0.4%● 0.0% vs 11-2024
01-2025: 0.4%● 0.0% vs 12-2024
02-2025: 0.4%▼ -3.7% vs 01-2025
03-2025: 0.4%● 0.0% vs 02-2025
04-2025: 0.4%▲ +1.9% vs 03-2025
05-2025: 0.4%▲ +4.5% vs 04-2025
06-2025: 0.4%▼ -8.2% vs 05-2025lowest value
07-2025: 0.5%▲ +26.9% vs 06-2025
08-2025: 0.5%● 0.0% vs 07-2025
09-2025: 0.5%● 0.0% vs 08-2025
10-2025: 0.5%● 0.0% vs 09-2025
11-2025: 0.5%● 0.0% vs 10-2025
12-2025: 0.5%● 0.0% vs 11-2025
01-2026: 0.5%● 0.0% vs 12-2025
02-2026: 0.4%▼ -3.7% vs 01-2026
03-2026: 0.4%● 0.0% vs 02-2026
04-2026: 0.4%▲ +2.0% vs 03-2026
05-2026: 0.5%▲ +2.7% vs 04-2026
06-2026: 0.5%▲ +1.1% vs 05-2026highest value
07-2026: 0.4%▼ -10.1% vs 06-2026
08-2026: 0.4%● 0.0% vs 07-2026
09-2026: 0.4%● 0.0% vs 08-2026
10-2026: 0.4%● 0.0% vs 09-2026
- Loss of €4.1m, the second in a row (FY 2025) raises the probability
- Liquidity: current ratio 1.05, cash €2.8m lowers the probability
- Sector Manufacture of electrical equipment (NACE 27) raises the probability
- Founded in 1983 lowers the probability for this profile
Credit up to €310,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.05 against 1.09 in 2024; short-term debt: 60.5% and cash: 15% of total assets), and 68.8% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 27). Better than this share of them on solvency 44%, liquidity 36%, profitability 8%, growth against the median 26%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€4.1m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-06-2026, 52 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
52 d early
2024
57 d early
2023
69 d early
2022
66 d early
2021
68 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 62 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 26 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · consolidated
- Reappointment: Christine JORIS (director)Appointments: Plan2Transform BV (director) and…
- Annual accounts filedfiscal year 2025 · full…
Key points
- Risk: 6 loss-making years in a rowloss fiscal year 2025 -€4.1m View
- Caution: Among the weakest 5% on net resultsector median €61,057 · 115 companies -€4.1m View
- Controlled by Parfibelitself parent of 1 companies 90% View
- Positive: Always filed on timeaccounts within the deadline every year 5 years View
- Flemish supportawarded 2022 - 2025 €88,567 View
By topic
Board & ownership
- Board
- 7 members
- Parent
- Parfibel · 90%
- Auditor
- KPMG Bedrijfsrevisoren
Go to Board & ownership
Network & group
- Subsidiaries
- 1
- Connected companies
- 6
- Mergers and contributions
- 3
1 subsidiary
Timeline
- Events
- 48
- Since
- 2010
- Next accounts
- by 31-07-2027
- 09-07-2026Annual accounts filed
- 29-06-2026Reappointment: Christine JORIS (director)
- 09-06-2026Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Manufacture of electrical equipmentNACE 27402
- Founded
- 14-12-1983
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 2
- Purpose
- De vennootschap heeft tot voorwerp, in België en in het buitenland: De ontwikkeling, de…
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